EMCOR Group Rating Increased to Neutral at Zacks (EME)
EMCOR Group (NYSE:EME) was upgraded by Zacks from an “underperform” rating to a “neutral” rating in a note issued to investors on Friday, AnalystRatings.NET reports. The firm currently has a $42.00 price objective on the stock. Zacks‘ target price would indicate a potential upside of 3.86% from the stock’s previous close.
Zacks‘ analyst wrote, “Emcor Group, Inc is a leading construction and manufacturing company specializing in electrical facilities, energy infrastructure and LEED construction. We have upgraded our recommendation on Emcor Group from Underperform to Neutral with a target price of $42. In the last reported quarter, Emcor’s earnings had declined 22.6% year over year. Furthermore, the company’s organic growth has been continuously declining. Also, weak performance of the industrial services segment remains a concern. However, Emcor’s recent credit agreement greatly increases its liquidity and is aiding the company to stabilize its cash position. In Dec, the company also announced an increase in quarterly dividend and also initiated a share repurchase plan.”
Several other analysts have also recently commented on the stock. Analysts at Davidson raised their price target on shares of EMCOR Group from $45.00 to $48.00 in a research note to investors on Thursday, January 9th. Analysts at DA Davidson raised their price target on shares of EMCOR Group from $45.00 to $48.00 in a research note to investors on Thursday, January 9th. They now have a “buy” rating on the stock. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $43.57.
EMCOR Group (NYSE:EME) traded up 2.27% on Friday, hitting $41.36. 249,313 shares of the company’s stock traded hands. EMCOR Group has a one year low of $35.26 and a one year high of $44.88. The stock has a 50-day moving average of $42.55 and a 200-day moving average of $40.0. The company has a market cap of $2.777 billion and a P/E ratio of 22.23.
EMCOR Group, Inc (NYSE:EME) is an electrical and mechanical construction and facilities services firm in the United States, the United Kingdom and globally.
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